The mammoth furniture, flooring, appliance and electronics store will open in 2015. The plan is for the furniture store to anchor what’s expected to be a mixed-use development that will cost $1.5 billion to build on 433 acres along State Highway 121 in The Colony.

No other tenants have been announced. The development is just west of Frisco and Plano between W. Spring Creek Parkway and Plano Parkway.

This is huge project for The Colony and it’s spending to make it happen. The store will be more than twice as big as the nearby Ikea, or equal to four Wal-Mart Supercenters.

The project is being developed by Nebraska Furniture Mart, which is a Berkshire Hathaway Co. It will be only the fourth location for the company. The Colony approved initial plans for the project in 2011.

Store officials are making a bold prediction that it will be the highest-volume furniture store in the U.S. Its other stores in Nebraska and Kansas take in average annual sales of $400 million each.

DMN Staff Writer Matthew Watkins did a story in March quoting The Colony city officials who predict that the facility will generate $195 billion in economic activity and create 20,426 jobs over the first 40 years.

Tod Maurina, an assistant city manager for The Colony, said the store will attract 8 million visitors in the first year it opens. He compared that to the number of people who attend Dallas Cowboys and Texas Rangers games in Arlington combined.

The Colony will spend about $291 million on roads, utilities upgrades and an on-site parking garage, documents show. It will pay Nebraska Furniture Mart up to $261 million to offset some of the store’s building expenses.

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